Check m Marcelino Co.'s March 31 inventory of raw materials is $90,000. Raw materials purchases in April are $530,000, and factory payroll cost in April is $388,000. Overhead costs incurred in April are: Indirect materials, $56,000; Indirect labor, $29,000; factory rent, $37,000; factory utilities, $24,000; and factory equipment depreciation, $59,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $700,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 300 $ 28,000 21,000 10,500 $ 40,000 14,000 7.000 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 220,000 152,000 131,000 104,000 2 Pinished (sold) $115,000 103,000 7 In process Pinished (unsold) 3. Prepare a schedule of cost of goods manufactured. MARCELINO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Direct materials used $ 131,000 Direct labor used 104,000 Factory overhead applied 52.000 Total manufacturing costs 287.000 Add: Work in process March 31 Total cost of work in process 287.000 Less: Work in process April 30 Cost of goods manufactured $ 287,000 S Next > 3. Prepare a schedule of cost of goods manufactured. MARCELINO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Direct materials used $ Direct labor used 131,000 104,000 52,000 287,000 Factory overhead applied Total manufacturing costs Add: Work in process March 31 Total cost of work in process Less: Work in process April 30 Cost of goods manufactured 287,000 $ 287,000